The jobs report disappointed America for the third month in a
row. According to the Bureau of Labor Statistics,
U.S. companies added just 80k net new jobs, which was short
of the 100k expected by economists. This was largely due
to private payrolls, which grew by just 84k; economists were
looking for an increase of 106k. The unemployment rate was
unchanged at 8.2 percent. SEE ALSO:
The Most Unemployed City In Every State >

Some were strangely hoping for an even worse number, which
would motivate the Federal Reserve to introduce some new easy
monetary policy to stimulate the economy.
Morgan Stanley's David Greenlaw, who was live-tweeting the
report, acknowledged the weak jobs number, while arguing that
we were unlikely to see easing in the form of quantitative
easing any time soon. The
drop in gold prices would confirm such sentiment.
SEE ALSO:
The Most Employed City In Every State >

For what it's worth, the
Wall Street Journal's Jon Hilsenrath disagrees with
Greenlaw and the entire gold market. "Friday's
disappointing jobs report increases the likelihood that the
Federal Reserve will launch a new bond-buying program to boost
economic growth, though it doesn't ensure such a move," he
wrote. It's worth noting that markets rallied off of
their lows right around the time Hilsenrath's article was
published.